IR369      Half Unit
Politics of Money in the World Economy

This information is for the 2016/17 session.

Teacher responsible

Mr Martin Hearson ALD 1.12

Availability

This course is available on the BSc in International Relations, BSc in International Relations and History and BSc in Politics and International Relations. This course is available with permission as an outside option to students on other programmes where regulations permit and to General Course students.

Pre-requisites

Students must have completed International Political Economy (IR204).

Course content

This course is designed as a component of the study of a global system in which the management and mismanagement of money and finance are matters of fundamental consequence for international relations. It is intended to be of particular relevance to students specialising in international political economy. This is a course in applied international political economy theory. It deals with the basic concepts regarding the creation, use and management of money and finance in the global system. Students are then introduced to the political foundations of international monetary governance. Issues covered include the use of national currencies as international money, the politics of exchange rate adjustment, the operations of banks and other institutions in international money and capital markets, the evolution of global financial markets, the relationship between states and markets in the arena of global finance, international monetary cooperation, and the choices of monetary and financial policies open to developed and developing countries. The course emphasises that contemporary issues, such as international financial crises, international financial regulation and the politics of IMF conditionality, are best understood in a broader theoretical and analytical context.

Teaching

10 hours of lectures and 10 hours of classes in the MT. 1 hour of lectures and 1 hour of classes in the ST.

A series of 10 additional lectures (held in MT) are given as part of IR369, Introducing Concepts in Monetary Theory and International Monetary Economics.

Students on this course will have a reading week in Week 6, in line with departmental policy.

Formative coursework

Students will be expected to produce 1 essay in the MT.

Students are expected to make presentations on topics of their choice and to write one 2,000-word essay, to be marked by the seminar teacher.

Indicative reading

No one book covers the entire syllabus, but the following general works provide a useful introduction: B Eichengreen, Globalizing Capital (2008); A Walter and G Sen, Analyzing the Global Political Economy (2009); R Gilpin, The Political Economy of International Relations (1987), Chapters 4&8; S Strange, Mad Money (1998); J Frieden and D Lake, International Political Economy: Perspectives on Global Power and Wealth, section IIIC; T Porter, Globalization and Finance (2005); D Andrews (ed), International Monetary Power (2006). 

Assessment

Exam (100%, duration: 2 hours) in the main exam period.

Key facts

Department: International Relations

Total students 2015/16: 10

Average class size 2015/16: 10

Capped 2015/16: Yes (30)

Lecture capture used 2015/16: Yes (MT)

Value: Half Unit

Guidelines for interpreting course guide information

PDAM skills

  • Leadership
  • Self-management
  • Team working
  • Application of information skills
  • Communication
  • Commercial awareness
  • Specialist skills